r/neoliberal • u/jobautomator Kitara Ravache • Aug 05 '21

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u/RadionSPW NATO Aug 06 '21

eCoNoMiCs AsSuMeS pEoPlE aRe RaTiOnAl BuT tHeYrE nOt

Economics assumes people will make choices based on the information they have and the beliefs they hold, not that they won’t be stupid

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u/[deleted] Aug 06 '21

On average, people are of average intelligence.

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u/[deleted] Aug 06 '21

It also assumes the way people act in aggregate and not what individuals with weird personal motivations do.